Govt may increase petroleum prices by Rs20 per litre

Govt may increase petroleum prices by Rs20 per litre
Government may increase prices of petroleum products by up to Rs20 per litre.

On August 15, the government increased the petrol price by Rs6.72 per litre, while slashed diesel price by Rs0.51.

The price of petrol was fixed at Rs233.91 per litre, diesel at Rs244.44 per litre, kerosene oil is being sold for Rs199.40 per litre, and the price of light diesel oil is Rs191.75 per litre.

The finance division in its statement said that in the wake of fluctuations in petroleum prices in the international market and exchange rate variations, the government had decided to revise the existing prices of petroleum products to pass on the impact to the consumers.

On the other hand, Pakistan had assured the International Monetary Fund (IMF) to gradually increase the levy on petroleum products up to Rs50 per litre. A letter of intent had been agreed upon between Pakistan and the IMF.

Following the signatures of Governor State Bank of Pakistan Dr. Murtaza Syed and Minister for Finance Miftah Ismail, Pakistan had sent Letter of Intent (LoI). Additionally, they confirmed that the fuel tax will be gradually increased to Rs 50 per litre. The government had promised in writing to the IMF that the fuel tax will increase by an additional Rs 10 per litre in September (next month).

According to sources familiar with the development, Pakistan has assured the international lender that government will gradually increase levy on petroleum products to Rs50.

 


via Original Source

Comments

Post a Comment

Popular posts from this blog

Shahid Afridi welcomes Virat Kohli's interest in visiting Pakistan

Image
Pakistan's veteran all-rounder and former skipper Shahid Afridi has finally reacted to Indian star batter Virat Kohli's remarks on playing in Pakistan. "I expected such a statement from Virat. I welcome Kohli, whether he comes to the Pakistan Super League (PSL) or with the Indian team," Afridi said while speaking during a tape ball event in Karachi on Saturday. Afridi's comments refer to Kohli's remarks, while speaking to Pakistani mountaineer Shehroze Kashif, wherein he said that he hopes to visit Pakistan "soon". "Give my regards to your family and all your friends. Hopefully, we [will] visit Pakistan soon [as] everyone has started visiting now," Kohli can be heard saying in the video. The video which dates back to 2022, has since then been deleted by Kashif, owing to the controversy that arose and in light of his personal contacts in the neighbouring country. "I had to delete the video because of my personal contacts in India...
Read more

Shaheen Afridi achieves another milestone

Image
Pakistan's left-arm pacer, Shaheen Shah Afridi, achieved a milestone of claiming 300 wickets in international cricket during the second T20I against Ireland on Sunday. This remarkable achievement comes in just 145 international matches, highlighting Afridi's immense talent and impact across multiple formats of the game. Afridi played a pivotal role by securing three crucial wickets on Sunday against Ireland. The 24-year-old has been a force to reckon with in the cricketing world, showcasing his bowling prowess in One Day Internationals (ODIs) with 104 dismissals, Test cricket with an impressive tally of 113 wickets, and T20 Internationals with an outstanding record of 84 wickets. Afridi's achievement also places him among the youngest bowlers to reach 300 international wickets, joining the ranks of cricketing legends like Waqar Younis and Saqlain Mushtaq. PCB Chairman Mohsin Naqvi congratulated Shaheen Afridi on his achievement and presented him with a shirt with ...
Read more

Eat to beat high cholesterol

Image
Surprised to hear about 52-year-old Australian cricketing icon Shane Warne, a seemingly fit and healthy ex-professional athlete, suffering a fatal heart attack? Then you might be wondering about the state of your own heart health. And men are no longer the primary candidates for heart attack and related high cholesterol. Women are now also just as much at risk of developing these stress-related killers. Environmental factors and changing lifestyles mean the example your parents set may no longer apply. Fast-moving research also means conflicting health advice. Are eggs on or off the menu? Is cheese and full-fat milk recommended or not? With more people than ever living with high cholesterol, HFG sets the facts straight. Foods for a healthy heart Dietary cholesterol has minimal impact on blood cholesterol levels, so you don’t have to pay too much attention to the cholesterol in the foods you eat. It’s far more important to cut back on saturated fats, since this has a far more pote...
Read more